UBS Group initiated coverage on shares of SJW Group (NYSE:SJW) in a research note released on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $64.00 target price on the utilities provider’s stock.
Several other research firms have also recently weighed in on SJW. Wells Fargo & Co started coverage on shares of SJW Group in a report on Monday, January 28th. They issued an outperform rating and a $70.00 price target on the stock. Zacks Investment Research cut shares of SJW Group from a buy rating to a hold rating in a report on Wednesday, January 16th. Finally, ValuEngine cut shares of SJW Group from a buy rating to a hold rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $65.60.
SJW Group stock opened at $62.63 on Wednesday. The firm has a market capitalization of $1.78 billion, a PE ratio of 24.28, a PEG ratio of 4.44 and a beta of 0.06. SJW Group has a fifty-two week low of $51.82 and a fifty-two week high of $68.42. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.58.
SJW Group (NYSE:SJW) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.13. The firm had revenue of $77.68 million for the quarter, compared to analysts’ expectations of $77.00 million. SJW Group had a net margin of 10.83% and a return on equity of 8.37%. As a group, sell-side analysts anticipate that SJW Group will post 2.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be issued a $0.30 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.20 annualized dividend and a dividend yield of 1.92%. SJW Group’s payout ratio is currently 47.81%.
Several institutional investors have recently added to or reduced their stakes in SJW. BlackRock Inc. grew its position in SJW Group by 22.3% in the first quarter. BlackRock Inc. now owns 1,811,979 shares of the utilities provider’s stock worth $111,871,000 after acquiring an additional 330,871 shares in the last quarter. Vanguard Group Inc grew its position in SJW Group by 1.3% in the third quarter. Vanguard Group Inc now owns 1,024,163 shares of the utilities provider’s stock worth $62,627,000 after acquiring an additional 13,510 shares in the last quarter. Vanguard Group Inc. grew its position in SJW Group by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,024,163 shares of the utilities provider’s stock worth $62,627,000 after acquiring an additional 13,510 shares in the last quarter. Renaissance Technologies LLC grew its position in SJW Group by 10.6% in the first quarter. Renaissance Technologies LLC now owns 845,500 shares of the utilities provider’s stock worth $52,201,000 after acquiring an additional 80,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in SJW Group by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 763,203 shares of the utilities provider’s stock worth $47,121,000 after acquiring an additional 53,131 shares in the last quarter. 66.11% of the stock is currently owned by hedge funds and other institutional investors.
SJW Group Company Profile
SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.
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